online capital financing platform capital float has integrated its offerings – Capital Float, Walnut and Walnut 369 – and rebranded itself as ‘axiom’, it said in a blogpost on Wednesday.

The integration brings checkout finance services, pay later, personal loans and wealth management tools under one roof to cater to the growing consumer base of the company.

Established in 2013 by Gauravi

and Shashank Rishyasringa, Capital Float, will now be the brand name of Axio, capflot financial servicesRegistered as a Non-Banking Finance Company (NBFC,

CapitalFloat, now axio, began by providing financing to small and medium enterprises, and later diversified into offering credit to consumers through its partnership with Amazon’s Pay Later product. With the unified platform, the company will now focus on helping consumers have better credit access.

According to the company, while the growth of digital payments and e-commerce has been exponential, more than 75% of consumers shopping online do not have a credit card. To correct this gap, the company will provide credit and personal finance management The platform, formerly known as Walnut App for its users. The company also allows users to shop through its app which has EMI offers from partner brands.

“Out of our population of 1.4 billion, only 30 million have a credit card. Nevertheless, 150 million now actively transact in our digital economy. Responsible credit, which solves affordability through technology, is the only answer. At affordability-focused Checkout Finance, we found the right tool to enable the start of the credit journey for millions of customers. Our goal is to be there along that journey, meeting larger credit needs,” the company talked about in a blogpost on the way forward.

Axio now wants to tap into its 3,000-strong merchant base, which includes partners such as Amazon, MakeMyTrip, Razorpay and PolicyBazaar, to offer instant credit at checkout.

In a blog post, Rishyasringa and Hinduja pointed out that the company has reduced default rates – cohort and gross non-performing assets – from 70% to just 1%. It has grown to 4.5 million credit customers and is expected to add one million new customers every quarter.

Last year,
Capital Float raises $50 million in funding from marquee investors Such as Elevation Capital, Sequoia India, LightRock and Ribbit Capital. it was also
Partnered with Razorpay To extend its ‘Buy Now, Pay Later’ solution – Walnut369 – to all RazorPay-enabled online merchants.

stay high technology And Startup News that matters. to subscribe Get the latest and must-read tech news in our daily newsletter, delivered straight to your inbox.